KARACHI: The Directorate General of Customs Valuation on Tuesday determined the customs values of BoPET/holographic and pet sequin films from all origins vide Valuation Ruling No.701/2014 dated November 24, 2014 No. Misc/01/2007-II-Part-I/7844.
The Director General vide Valuation Ruling Order No. 42/2014 dated April 15, 2014 had remanded the case for issuance of fresh valuation ruling. Moreover, there were also persistent demands from the importers/users for revision of Valuation Ruling No.595/2013 dated October 8, 2013 due to downward trend of the prices in the international market of BoPET films.
Therefore, an exercise was initiated under Section 25A of the Customs Act, 1969 to determine the Customs value of BoPET/holographic and pet sequin films. The valuation methods given in Section 25 of the act were applied sequentially to address the issue at hand. Transaction Value Method under Sub-Section (1) of Section 25 was found inapplicable because the required information under the law was not available.
Identical and similar goods valuation methods provided in Sub-Section (5) and (6) of Section 25 of the act provided some reference values but due to wide variations in declarations the same could not be relied upon. In the sequential order a market inquiry in terms of Sub-Section (7) of Section 25 of the act was also conducted. Sub-Section (9) of Section 25 was, however, applied to arrive at assessable Customs values.
Meetings were held with the stakeholders on October 6, 2014 and November 11, 2014 and written and verbal contentions from the stakeholders were scrutinized. Ultimately, the Directorate General of Valuation determined the customs values of BoPET/holographic and pet sequin films from all origins as follows.
PET plain uncoated from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and proposed PCT for WeBOC of 3920.6200.1000; 3920.6900.1000 and 3920.6310.1000 respectively shall be assessed for duty/taxes at $1.85 per kilogram. PET plain chemical coated from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and proposed PCT for WeBOC of 3920.6200.1100; 3920.6900.1100 and 3920.6310.1100 respectively shall be assessed for duty/taxes at $1.95 per kilogram.
PET plain twist from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and proposed PCT for WeBOC of 3920.6200.1200; 3920.6900.1200 and 3920.6310.1300 respectively shall be assessed for duty/taxes at $2.15 per kilogram.
PET metalized-plain uncoated from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and Proposed PCT for WeBOC of 3920.6200.1300; 3920.6900.1300 and 3920.6310.1300 respectively shall be assessed for duty/taxes at $ 2.15 per kilogram.
PET coated metalized from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and Proposed PCT for WeBOC of 3920.6200.1400; 3920.6900.1400 and 3920.6310.1400 respectively shall be assessed for duty/taxes at $2.25 per kilogram. PET Coated twisted from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and proposed PCT for WeBOC of 3920.6200.1500; 3920.6900.1500 and 3920.6310.1500 respectively shall be assessed for duty/taxes at $2.25 per kilogram. PET coated twisted metalized from All Origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and proposed PCT for WeBOC of 3920.6200.1600; 3920.6900.1600 and 3920.6310.1600 respectively shall be assessed for duty/taxes at $ .55 per kilogram.
Holographic film from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and Proposed PCT for WeBOC of 3920.6200.1700; 3920.6900.1700 and 3920.6310.1700 respectively shall be assessed for duty/taxes at $3.55 per kilogram.
And finally, PET sequin film from all origin having PCT Heading 3920.6200; 3920.6900 and 3920.6310 and proposed PCT for WeBOC of 3920.6200.1800; 3920.6900.1800 and 3920.6310.1800 respectively shall be assessed for duty/taxes at $3.95 per kilogram.
In cases where the declared/transaction values are higher than the customs values determined in this ruling, the assessing officers shall apply those values in terms of Sub-Section (1) of Section 25 of the Customs Act. And in cases of consignments imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the Customs values determined in this Ruling. This valuation ruling supersedes Valuation Ruling No. 595/2013 dated October 8, 2013.
